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30 June 2011

Indian Government Discontinues ¼ INR Indian Rupee Coin: Indian economy crashes by 25% (?)

Harish Jharia

25 paisa coin has been withdrawn with effect from 1 July 2011 by Government of India from circulation across the Indian markets. It appears to be a common action taken by Indian government; nevertheless, I as a common man, a shopper and a literate citizen of Indian republic, take this in a different way. I think that rupee; the unit currency of India has been practically devaluedby 25%. The value of Indian rupee has otherwise got little value as beggarsuse to ask for alms worth `5/- rupees and `10/-.

Most of the market brands attach price tags on their products worth `499/- or `999/- etc and no one bothers about the difference of `1/- between `499/- and `500/-. Practically the cashier asks for `500 and most of the customers pay `500/- in place of `499/-. The main reason for this is that the value of `1/- is so very low that customers feel hesitation in asking for a rupee coin, because it is below their dignity.

India is the largest democracy on this planet. Indian business houses and many businessmen are among the biggest and richest in the world. We Indians have illusionsthat our country is a world power. We never miss any opportunity of praising ourselves. Even on the international platform we claim our rights for permanent membership in the UN Security Council. We cleverly hide the fact of the rampant corruption in public life and hoarding of black money in foreign banks.

The magnitude of corruption and black money in the tune of millions of billions of Indian rupees is not just enough for we Indians to wake up from our eternal sleep. We also hide the fact that India has the worst form of social discrimination like apartheidin the form of lower castes. We also hide the fact that some of the lower casts are used as filthy abuses in social interaction. We also hide the fact that there are thousands of ‘Kalahandies’ among Indian villages, where poor Indian citizens just die out of hunger and starvation.

The starving India

Indian government have withdrawn legal transaction of ¼ rupee and accepted the fact that the Indian economy has crashed by 25%. The value of a rupee and its parts is negligible for the people of middle and upper classes. Yet, the unit currency is important for the people below the middle class level.

The other day I was shocked to know that one of the security guards in our locality eats roasted black gram (bhune chane) for filling his belly as his dinner. Starvingkalahandi Indian citizens were reported to have resorted to eating rodents for killing their hunger and most of them died out of starvation. These starving people are the worst affected from the crashing economy in India. It is not only Kalahandies the situation in slums in metro cities are even worse.

Recently there have been reports of robbing passengers in trains and repeated burglaryin residential areas. There have been many cases of robbing senior citizensand murdering them by unemployed youths.

Indian politicians miss no opportunities of criticizing Americans, Australian and British governments for their international politics. They diplomatically avoid mentioning the economies of these developed countries as compared to that of India. It is just unbelievable to digest the truth that approximately `50/- Indian rupees are equal to one American dollar.

A simple question comes in my mind that why `1/- is not equal to $1/-…? Why the smallest coin in US has some value and ¼ Indian rupee worth 25 paisa is declared non-negotiable?

I appeal to the Indian government for making efforts to strengthen the Indian economy so much so that `0.01 (1 paisa) should also have some value. Lest the currency denominations like `1 = 100paisa should be removed because smaller denominations of Indian rupee has no value.

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